14-05-21 Daily-Punjab-PPSC Current Affairs

Punjab Affairs

Punjab CM directs finance dept to release Rs 60 crore for construction and enhance budget allocation for sports varsity

Punjab Chief Minister Amarinder Singh directed the finance department to immediately release the sanctioned amount of Rs 60 crore for the first phase construction of the Maharaja Bhupinder Singh Punjab Sports University (MBSPSU), Patiala campus.

He also asked the finance department to enhance the allocation for the premier institution in this years budget, saying that the Rs 15 crore allotted for the university was too less.

To ensure world-class curriculum for the university, the chief minister approved a draft MoU to be signed with UK-based Loughborough University to institutionalise the collaboration between the two.

National and International Affairs

FDI inflows rise 9.8% to record $82 billion in FY21

Foreign direct (FDI) inflows into India rose 9.8% to a record $81.7 billion in 2020-21 on a gross basis on the back of record investment into companies such asReliance Jio.
Fresh Equity inflows are estimated to have increased by an impressive 19% to $59.6 billion, while reinvested earnings went up 14% to $16.2 billion.

Singapore was the top source, which is now followed by the United States with Mauritius once the dominant source of FDI due to tax benefits under the tax avoidance treaty pushed to the third spot.

In terms of Growth, inflows from Saudi Arabia. jumped from $90 million in 2019-20 to $2.8 billion last year. And with E-Commerce and IT being the major draw for overseas investors looking to tap into the India consumption story, computer Software and hardware emerged as the most attractive sector to invest, cornering nearly 44% of the FDI equity inflows. Next was construction (Infrastructure), which accounted for a 13% share. Among the states it was Gujarat that was the top recipient, according to the Centres data, accounting for 37% of the inflows, followed byMaharashtra(27%) and Karnataka (13%).

The government has been seeking to bolster FDI especially in the manufacturing sector and some of the investments are related to companies such asApples vendors andSamsungpumping in funds to set up bigger production facilities for mobiles and electronics goods.

The government has identified close to 1,000 companies and is working withInvest Indiato tap companies that are seeking to diversify their production bases.

Final Destination for Punjab PSC Notes and Tests, Exclusive coverage of PPSC Prelims and Mains Syllabus, Dedicated Staff and guidence for Punjab PSC PPSC  Notes brings Prelims and Mains programs for PPSC  Prelims and PPSC  Mains Exam preparation. Various Programs initiated by PPSC  Notes are as follows:- For any doubt, Just leave us a Chat or Fill us a querry––